Sweco reported stronger-than-expected fourth-quarter results, with net sales rising 6% to SEK 8.55 billion and EBITA surging 9% to SEK 979 million, beating consensus forecasts by 1%. The engineering consultancy's EBITA margin expanded to 11.50% from 11.10% year-over-year, driven by higher fees, improved project execution, and a 0.20 percentage point increase in the billing ratio. While sales were 1% below consensus expectations, the company highlighted strong organic growth of 5%.

However, margin expansion was uneven across regions, with Germany and Central Europe posting the strongest improvement at 67% EBITA growth to SEK 167 million, lifting margins to 20.70% from 13.10%. By contrast, Sweden's EBITA fell 7% to SEK 278 million and the Netherlands saw a 1% EBITA increase but margin slippage to 10.80%. The declines in Sweden were attributed to acquisition-related costs from Projektengagemang.

Demand remained robust in infrastructure, water, environmental services, energy, and security, while buildings and real estate lagged, particularly in residential and commercial segments.